The Federal Reserve Bank of Chicago and its partner organizations, including Junior Achievement of Chicago, are once again sponsoring the Money Smart Kid Essay Contest.
Students in grades 5-8 are encouraged to answer this year’s Money Smart Question with an essay of 300 words or less. Six finalists will be selected to attend the Money Smart Kick-Off breakfast and one student will be named this year’s Money Smart Kid, winning a $5,000 scholarship from BMO Harris Bank and the chance to spend a year as Chicago’s financial literacy ambassador. Two $2,500 scholarships will be awarded to the runner-ups sponsored by COUNTRY Financial. Laptops will be awarded to the other three (3) finalists sponsored by Woodforest National Bank. The first 20 teachers to have at least two (2) students submit essays will receive one $25 gift card courtesy of BMO Harris Bank.
The 2013 Question:
What is the difference between an investment and an expense? What would be a good investment in your community and why? Please discuss who would benefit from this investment.